Wabtec to buy BBA's Becorit rail-equipment unit for $50 mln

RobertDaniel

TEL AVIV (MarketWatch) -- Wabtec Corp.,
WAB, +3.57%
the Wilmerding, Pa., provider of rail-industry products and services, disclosed its second acquisition in seven weeks, definitively agreeing to pay $50 million for Becorit GmbH, a maker of friction products for the European railway industry. Becorit, a German unit of BBA Aviation Plc
BBA, +1.88%
of the U.K., has annual sales of $30 million. Wabtec expects the deal to close by early December and to immediately add to earnings. In early October, Wabtec acquired Schaefer Equipment Inc., the Warren, Ohio, manufacturer of forged brake-rigging components for freight cars, for $36 million. Schaefer also has annual sales of about $30 million. For Wabtec, the company said, Becorit is "a strong strategic fit." BBA said in a statement that after recently closing the the demerger of Fiberweb, the sale of Becorit enables the company to focus completely on aviation services.

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